309 9th Street St N · La Crosse, WI 54601

$1,200,000

None bd · None ba · — sqft · MultiFamily · 11 Days on market

Built 1985 8,276 sqft lot

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• 1% rule +3.5/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Centrally located remodeled college 8 unit. Close to UWL and WTC.

Key facts

• Downtown location
• Upgraded kitchens
• Upgraded bathrooms

Tags

• REMODELED APARTMENT BUILDING
• UPGRADED KITCHENS
• UPGRADED BATHROOMS
• NEW LAMINATE FLOORING
• DOWNTOWN LOCATION

Property features AI

Finance

• Other: Tenant personal property excluded from sale
• Financial info: 8 total units in the building

Exterior

• Parking: Outdoor parking; On-site parking; Outside parking spaces
• Utilities: Municipal water; Municipal sewer
• Home design: Multi-family property; Apartment building; 1–2 stories; Zoned commercial
• Construction: Construction year: Other — see remarks
• Exterior features: Stucco/Slate exterior; Less than 1/2 acre lot

Interior

• Heating & cooling: Wall/sleeve air units; Electric heating
• Interior features: Full basement; Any existing appliances included
• Laundry & utility: Seller-owned water heater

What this means for you Summary

Snapshot

• This is a 8 × 2-bed/1.0-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $77 ($930/yr) — positive. Per door: $10/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.02M (15.4% below list).
• Recommended offer: $1.02M (15.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.1% in La Crosse — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#339 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D, crime F.
• La Crosse School District (urban): math 29% / reading 34% proficiency, ranked #267 of 342 in WI (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Emerson Elementary (math 42% / reading 37%, grade F, #490 of 1,041 statewide, top 53%, 311 students, 31% FRL); Lincoln Middle (math 34% / reading 41%, grade F, #172 of 383 statewide, top 45%, 277 students, 41% FRL); Logan High (math 17% / reading 27%, grade F, #349 of 483 statewide, top 75%, 754 students, 47% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: Rents rising (+2.7%/yr); 224 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 268 units permitted in La Crosse County in 2024 (10 in 5+ unit buildings).
• At $10,156/mo this rent would consume 198% of the median local household income ($62k/yr) (locally 2352% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $36k of value loss. Plan a longer hold.
• La Crosse County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $975k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $1,015,600 (15.4% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.85% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.28%
• DSCR: 1.01
• GRM: 9.8

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
901 Vine St	0.03mi	—/—	2,104	6mo	$196,180	$93	82
1301 State St	0.36mi	—/—	—	0mo	$3,400,000	—	71
627 10th Street North St	0.29mi	—/—	—	9mo	$1,450,000	—	67
614 King St	0.35mi	—/—	—	7mo	$2,000,000	—	65
328 8th Street St S	0.44mi	—/—	—	4mo	$460,000	—	64
810-812 Cameron Ave	0.46mi	6/2.0	—	3mo	$280,000	—	63
903-907 Zeisler St	0.39mi	—/—	3,118	8mo	$430,000	$138	63
417-419 8th Street St S	0.49mi	6/2.0	1,928	3mo	$294,500	$153	62
1414 Pine St	0.46mi	—/—	34,171	10mo	$4,399,984	$129	58
708 Ferry St #710	0.61mi	6/2.0	2,359	3mo	$260,000	$110	57
726 Ferry St	0.61mi	7/2.0	2,250	4mo	$240,000	$107	56
706 6th Street South St #708	0.72mi	6/2.0	3,301	10mo	$217,000	$66	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.72% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.43×
• Total profit: $-192,432
• Equity at exit: $178,924

10-year hold

• IRR: -8.3%
• Equity multiple: 0.48×
• Total profit: $-173,100
• Equity at exit: $103,754

Cash invested: $336,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Wisconsin: 73 Landlord-Friendly · R+2
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; Madison / Milwaukee have some local enforcement.

Methodology + full state rankings →

ZIP-level market 54601

• Rents YoY: 2.7%
• Active inventory: 224
• Price-to-rent: 78.8×

Monthly cashflow live

• Estimated rent: $10,156 high
• Mortgage (P&I): −$6,293
• Tax from tax record: −$1,153 /mo · $13,834/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,133
• Net cashflow: $77

Break-even live

Break-even rent $10,058

Max offer price $1,200,000

Occupancy floor 94%

Sensitivity live

Price	-10% $757	-5% $417	+0% $77	+5% $-262	+10% $-602
Rent	-10% $-725	-5% $-324	+0% $77	+5% $479	+10% $880
Rate	-1.0pp $682	-0.5pp $383	base $77	+0.5pp $-233	+1.0pp $-550

8-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 8× units	2	1	$10,152
Total (8 units)			$10,156

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $300,000
• Closing costs: $36,000
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
514 10th St N Unit 5 La Crosse, WI	1.0	1.0	450	$1,050	$2.33	45d	1	0.20mi
1130 Vine St La Crosse, WI	1.0	1.0	445	$832	$1.87	45d	1	0.22mi
816 Cass St Apt 103 La Crosse, WI	1.0	1.0	538	$895	$1.66	45d	1	0.39mi
312 6th St S Unit 318 La Crosse, WI	3.0	2.0	—	$1,310	—	45d	1	0.47mi
520 7th St S Unit 5 La Crosse, WI	3.0	1.0	—	$1,195	—	45d	1	0.58mi
616 9th St S #1 La Crosse, WI	2.0	1.0	1000	$1,100	$1.10	45d	1	0.61mi
27 Riverpoint Ct La Crosse, WI	1.0	1.0	692	$1,488	$2.15	45d	21	0.65mi
1707 Main St La Crosse, WI	3.0	1.0	—	$1,690	—	45d	1	0.69mi
1001 Johnson St Unit 1001 La Crosse, WI	2.0	1.0	—	$1,250	—	45d	1	0.93mi
55 River Bend Rd Unit 509 La Crosse, WI	1.0	1.0	736	$1,525	$2.07	45d	1	0.94mi
55 River Bend Rd Unit 304 La Crosse, WI	1.0	1.0	1017	$2,100	$2.06	45d	1	0.94mi
55 River Bend Rd Unit 610 La Crosse, WI	1.0	1.0	803	$1,700	$2.12	45d	1	0.94mi
55 River Bend Rd Apt 302 La Crosse, WI	3.0	2.0	1246	$2,950	$2.37	45d	1	0.94mi
55 River Bend Rd Apt 608 La Crosse, WI	3.0	2.0	1183	$2,850	$2.41	45d	1	0.94mi
220 Copeland Ave Unit 220 La Crosse, WI	3.0	1.0	—	$1,450	—	45d	1	1.11mi
1418 10th St S La Crosse, WI	3.0	1.0	—	$1,200	—	45d	1	1.16mi
919 Gould St Unit 15 La Crosse, WI	1.0	1.0	500	$850	$1.70	45d	1	1.21mi
418 Rose St Unit 418 La Crosse, WI	1.0	1.0	—	$795	—	45d	1	1.26mi
418 Rose St Unit 422 La Crosse, WI	2.0	1.0	—	$920	—	45d	1	1.26mi
1442 Redfield St La Crosse, WI	3.0	1.0	1000	$1,100	$1.10	45d	1	1.41mi

Listing history 9 events

1. 2026-06-22
   days on market $1,200,000 Active 11 DOM
2. 2026-06-19
   days on market $1,200,000 Active 9 DOM
3. 2026-06-18
   days on market $1,200,000 Active 8 DOM
4. 2026-06-17
   days on market $1,200,000 Active 7 DOM
5. 2026-06-16
   days on market $1,200,000 Active 6 DOM
6. 2026-06-15
   days on market $1,200,000 Active 5 DOM
7. 2026-06-14
   days on market $1,200,000 Active 3 DOM
8. 2026-06-13
   remarks 227-char remark
9. 2026-06-13
   listed $1,200,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WI · Partial reset (capped growth)

• Current annual tax: $13,834 · $1,153/mo
• Projected year-2 tax: $18,017 · $1,501/mo
• Expected delta: +$4,183/yr (+$349/mo · 30.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $121,872
• − Mortgage interest: −$67,219
• − Property taxes: −$13,834
• − Insurance: −$6,000
• − Repairs & maintenance: −$9,750
• − Management: −$9,750
• − Depreciation: −$34,909
• Taxable loss: −$19,589
• Est. tax savings @ 24.0%: +$4,701
• After-tax cash flow: $5,631/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: La Crosse School District
• NCES district ID: 5507530
• Math proficiency: 29% ▼ -8.00%
• Reading proficiency: 34% ▼ -4.00%
• Median HH income: $42,924
• Composite: 26.76/100
• National rank: #7135
• State rank: #267 of 342 in WI

Livability — La Crosse

• Score: 69/100
• State rank: #339
• US rank: #8671

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment C- Housing A+ Health & safety D User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Crosse, WI
• County: La Crosse County · 89,439 people
• City population: 64,135
• Metro: La Crosse-Onalaska, WI-MN
• Population (ZIP): 50,397
• Household income: $61,639
• Rent vs Own: 46.0% rent · 54.0% own
• Severe rent burden: 2352.0

Population outlook (La Crosse County) Hauer SSP2

• Today (2025): 126,082 people
• By 2030: 130,161 · +3.2%
• By 2040: 137,231 · +8.8%
• By 2050: 143,506 · +13.8%
• By 2075: 160,149 · +27.0%
• By 2100: 166,408 · +32.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Asian 4% Two or more races 3% Hispanic / Latino 3% Black 1%
• Common ancestry: Portuguese 14% Romanian 6% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · La Crosse

• 2024 margin: Lean D (+9.4) · D 54.0% · R 44.6% · Other 1.4%
• 2008→2024 swing: -14.1pp toward R · 2008: 23.4pp · 2024: 9.4pp
• All cycles: 2024: D+9.4 2020: D+13.5 2016: D+9.6 2012: D+17.3 2008: D+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -186.70%
• Current HPI: 236.4506
• Rent YoY: ▲ 2.72%
• Metro: La Crosse-Onalaska, WI-MN
• State GDP YoY: ▲ 2.10%
• F500 in state: 20

Industry mix (Fortune 500 HQ in WI)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$23B
▸Industrial Technology	2	$36B
▸Insurance	1	$36B
▸Professional Services	1	$19B
▸Utilities	1	$9B
▸Consumer Goods	1	$3B

Price history

+23.1% since first listed

5 events — show timeline

• 2026-06-10 Listed $1,200,000 METROMLS
• 2023-05-25 Rental Removed — RENT.
• 2021-03-25 Listing Removed — METROMLS
• 2021-03-10 Listed $795,500 METROMLS
• 2014-04-10 Sold (Public Records) $975,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $13,834 · -3.9% YoY. Source: county tax records.